Krugman suggests that we might be close to the end, if Greece is unable to form a government and ends up out of the euro, which seems increasingly likely. One thing that everybody seems to agree is that in the Greek case fiscal issues did play a role. So here is some food for thought, are Greeks taxed at lower rates than citizens of other OECD countries?
The overall tax revenue as a share of GDP is actually a bit lower than the German, but not much, and is higher than the US, according to OECD data. There are differences on what kinds of taxes Greeks and Germans pay, with the Greek paying more on goods and services and less on income (i.e. a more regressive tax structure). But, for what is worth, tax revenues are not way off with respect to other countries.
Subscribe to:
Post Comments (Atom)
Inflation, real wages, and the election results
Almost everybody these days accepts at face value that the result of the election was heavily determined by negative perceptions about Biden...
-
"Where is Everybody?" The blog will continue here for announcements, messages and links to more substantive pieces. But those will...
-
There are Gold Bugs and there are Bitcoin Bugs. They all oppose fiat money (hate the Fed and other monetary authorities) and follow some s...
-
By Sergio Cesaratto (Guest Blogger) “The fact that individual countries no longer have their own currencies and central banks will put n...
No comments:
Post a Comment